The European Union (EU) is preparing to accelerate its phase-out of Russian energy supplies, according to European Commission President Ursula von der Leyen. The announcement marks another strong signal from Brussels that Europe is determined to reduce its reliance on Russian oil and gas in response to the prolonged conflict in Ukraine and Moscow’s continued military actions.

Von der Leyen revealed that she recently held a call with former U.S. President Donald Trump, during which the two leaders discussed strengthening joint measures to increase economic pressure on Russia. Both agreed that energy plays a central role in financing Russia’s war effort, and cutting off this revenue stream would be key to weakening Moscow’s financial capacity.

Since the start of the Ukraine conflict, the EU has faced challenges in balancing energy security with its goal of imposing sanctions on Russia. Many European countries have historically relied heavily on Russian gas, with some member states depending on it for more than 50% of their total energy needs. However, the war has reshaped Europe’s priorities, pushing governments to seek alternatives, diversify suppliers, and invest more in renewable energy projects.

The new proposal being drafted by the Commission is expected to include shorter timelines for phasing out Russian oil and gas imports, stricter measures on Russian energy companies, and additional financial sanctions. Analysts suggest that this could significantly increase pressure on Russia, but it may also present challenges for EU economies already battling high inflation and rising energy costs.

Von der Leyen emphasised that the EU is determined to achieve energy independence by accelerating the shift to renewable energy sources such as wind, solar, and hydrogen. She also pointed out that transatlantic cooperation with the United States will be vital in ensuring Europe’s smooth transition. Trump reportedly assured support for these efforts, noting that both the U.S. and EU share a common interest in reducing Russia’s global leverage.

The phase-out plan will also involve increased imports of liquefied natural gas (LNG) from allied countries, investment in nuclear power in some member states, and boosting regional energy grids for better connectivity. While this transition may bring short-term difficulties for industries and households, EU leaders believe it is essential for long-term stability.

The proposal comes at a time when global energy markets remain volatile, and Russia continues to seek alternative buyers for its oil and gas exports, particularly in Asia. Experts argue that if the EU successfully implements a faster exit strategy, it could reshape global energy flows and further isolate Russia economically.

The Commission is expected to unveil the detailed plan in the coming weeks, and it will then require approval from EU member states. If adopted, the policy would represent one of the most decisive steps taken by the bloc since the beginning of the Ukraine war.

By accelerating the end of Russian energy dependency, the EU hopes not only to punish Moscow but also to secure its own energy future through renewables, diversification, and closer cooperation with global partners.

The Upcoming IPOs in this week and coming weeks are Karbonsteel Engineering, Taurian MPS, L. T. Elevator, Galaxy Medicare, Airfloa Rail Technology, Dev Accelerator, Jay Ambe Supermarkets, Urban Company, Shringar House of Mangalsutra, .

The Current active IPO are Nilachal Carbo Metalicks, Krupalu Metals, Vashishtha Luxury Fashion, Sharvaya Metals, Vigor Plast India, Austere Systems.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.